And while Ofgem’s energy price cap is falling next month, all bets are off on the possible size of a July increase. It already stands at roughly £5.5billion, and has grown rapidly as households have battled with sky high energy bills despite the last lot of support and the price cap. And even if you’re not in debt yourself, you still pay for the cost of it through £50 added to everyone’s bill via the price cap mechanism. And while an energy price spike in the summer isn't great, it's when most people have their heating off so lower bills. The real fear is what could happen to Ofgem's price cap in October, when temperatures start to plunge, but that is still seven months away.

Source: Daily Mirror March 23, 2026 19:36 UTC